October, 2012 Noblesville Market Shows Improvement Versus Last Year

The Noblesville real estate market made significant progress in October, 2012, despite the fact that sales fell 13 percent versus the previous month. That’s because the 87 closings that took place, compared to where the market was during October of 2011, represent a sizable increase of nearly 32 percent. What’s more, an average 103 closings took place each month, or 21.2 percent more, from August through October of this year, compared to this same quarter last year.

The latest figures for pending sales bode well for the near-term future of the Noblesville market. October’s total of 90 represents a 7.1-percent gain over the previous month’s total of 84. But most impressive is the fact that this is a 36.4-percent increase versus last October’s total of just 66. Also, from August through October of this year there were, on average, 90 pending sales per month, or 25 percent more, compared to this same 3-month period last year.

Less competition in a buyer’s market is a good thing for anyone trying to sell a home. It wasn’t huge, but the 539 homes that were listed in October represent a 3.6-percent decrease in total inventory. Compared last October’s total of 665 homes for sale, however, it is an 18.9-percent decrease in total listings. In fact, October of 2012 marked the fourth consecutive month that the number of homes on the market shrank relative to the previous month. From August through October of this year there were, on average, 553 homes on the market each month, or 18.8 percent fewer, compared to this same quarter last year.